The PNC Financial Services Group (NYSE:PNC) Trading 0.9% Higher

The PNC Financial Services Group, Inc. (NYSE:PNC)’s stock price traded up 0.9% during mid-day trading on Monday . The stock traded as high as $154.26 and last traded at $153.65. 414,588 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,125,000 shares. The stock had previously closed at $152.30.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI lowered their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. UBS Group raised their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group decreased their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Finally, Bank of America raised their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Performance

The firm’s 50-day simple moving average is $152.28 and its two-hundred day simple moving average is $142.77. The company has a market cap of $62.70 billion, a PE ratio of 13.23, a P/E/G ratio of 1.76 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.98 earnings per share. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rockline Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $1,825,000. KPP Advisory Services LLC purchased a new position in The PNC Financial Services Group during the third quarter worth about $323,000. AQR Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.